Standardisation is a business concept where standards are set for various activities such as processes, raw materials, time management, products, machinery, methods, or working conditions. The definition provided in the question attributes standardisation to one of the historical figures in management theory. Among the options given:
Given these options, the correct answer is: Taylor
Which of the following statements correctly describe the significance of Principles of Management?
A) Principles of Management provide a universal framework to guide managerial decisions and actions.
B) They are rigid rules that must be followed without any adaptation.
C) They help managers predict and control organizational outcomes effectively.
D) Principles of Management are only relevant for large organizations and not for small businesses.